While you might want to track these teams’ calls for quality assurance purposes, there’s more insights to uncover from the calls that could greatly contribute to your business growth.
This post will explain everything you need to know about call tracking and how your business can use the analytics for more revenue.
What is Call Tracking and Analytics?
Call tracking and analytics is the process of monitoring all incoming and outgoing business calls to gain insights for team and business improvement.
65% of customers prefer to contact businesses via phone calls. So when you track your business calls, you get key data that can be used to make strategic decisions across your entire business.
For example, understanding how your customers found your business can show you what marketing campaign is most effective. In the long run, you can get more ROI by optimizing your marketing spend based on this information.
So, call tracking and analytics go beyond improving your customer service and sales team. It isn’t even about the call itself. It’s using the data from the calls to understand your customers better, improve your albania phone number list marketing effectiveness, and drive more sales and revenue to your business.
Some recommended call-tracking tools include; Invoca, Call Rail and Call Tracking Metrics.
How Does a Call Analytics Software Work?
Call analytics software works by picking up insights from your business phone calls and turning them into key data points. By combining the call tracking data and conversation analysis using AI, the call analytics software will provide a comprehensive picture of your customer interactions over the phone. This is how it will typically do this;
Step 1: Collect Data
The software starts by tracking or recording your calls to collect data. The tracking inserts a dynamic number to each advertising source or existing client account and then captures key data associated with the conversation.
This could be the name, phone number, location, originating ad campaign and more. Then for recordings, it further analyzes what is being said so the software can further review it.
Step 2: Convert Speech to Text
The recorded conversations are then further converted into transcripts using speech-to-text technology so AI can give context and analyze the calls.
Step 3: Text Analysis
Using Artificial Intelligence, the software then analyzes the transcribed conversations and collected data. The AI can typically identify keywords, phrases and sometimes even emotions in the call. In addition, it analyzes call efficiency like the call duration, if there were any transfers or holds (and how long).
Call rail is an example of a call tracking software that uses AI to deduce summaries and sentiments. After recording your call, the Timeline feature shows you the key points of the conversation.
Step 4: Reporting and Insights
After collecting all the data, the software then turns it into clear reports. This is where you get insights via a dashboard. For example, you can see where the bottlenecks are in your customer onboarding.
How Can Businesses Use Call Tracking and Analytics?
Businesses can use call tracking and analytics to gain competitive advantage, increase revenue and improve their customer satisfaction. There are so many benefits of call tracking.
The Benefits of Call Tracking
When you track your calls and the analytics it offers via the call tracking software, here are a few things your business will experience;
1. Better marketing campaigns
By understanding what campaigns are driving phone calls, you can optimize your marketing budget and focus more on the high-performing channels.
Invoca call tracking software offers a very detailed attribution report for sales and marketing by directly comparing conversion rates.
For example, are you getting more inquiries from users who saw a post on social media? You can create an FAQ highlight and put in more marketing efforts there.
2. Increased ROI and product improvement
When you understand which campaigns or features drive calls, you can measure the ROI on your marketing and sales. You can also deduce what features your customers want to see when they choose to do business with you or which ones they use the most. Amplify that feature in your next promotions.
When you get calls from frustrated customers, this lets you see the bottlenecks associated with each step of the journey. So you can easily identify areas of improvement for your business and actively work on improving them.
3. More sales returns
Tracking your business calls can help you identify high-quality leads by analyzing call details like the duration, popular keywords and how they feel about your brand. You can then focus your efforts on the most promising leads and close more deals.
It also shows how your customers are moving through the sales funnels. So you get their perspective on the online and offline journey to provide a more effective approach.
4. Improved customer experience and satisfaction
56% of organizations say that speech analytics tools have helped them improve their customer experience. Call tracking can show you the key areas your customers are unsatisfied with. However, to alleviate their concerns and provide exceptional service going forward, your team needs context.
So when you integrate your call tracking software with your CRM like Lemlist, your team can see previous information to personalize their experience. This could be their location, call history or previous interactions with your business.
